[ad_1]
Japanese Prime Minister Fumio Kishida’s first visit to India brought with it an investment plan of Rs 3.2 lakh crore in the next five years, indicating that the India-Japan partnership will only deepen. Prime Minister Narendra Modi welcomed the massive boost that such an investment target would provide to the country’s economy and said India was committed to providing “all possible support to Japanese firms”.
Part of Quad, Kishida, and Modi in their bilateral meeting on Saturday also discussed China’s presence in the South China Sea as well as India’s standoff with China in eastern Ladakh. The two leaders agreed that strong India-Japan ties will encourage peace, prosperity, and stability in the Indo-Pacific region.
During their discussion on the Ukraine situation following Russia’s invasion, Kishida described Moscow’s actions against the eastern European country as a “serious matter that has shaken the basis of international norms”.
The two sides inked six agreements providing for the expansion of bilateral cooperation in a range of areas, besides a separate clean energy partnership.
Here are the highlights from PM Modi’s Japanese counterpart Kishida’s visit to India, which will come to an end early on Sunday:
Japan’s massive investment target
Kishida said his $42-billion investment plan will bring massive benefits for several industries in India, especially when it comes to the development of urban infrastructure to green energy. Japanese investments in India touched $32 billion between 2000 and 2019, mainly in the automobile, electrical equipment, telecommunications, chemical, insurance and pharmaceutical sectors. The bilateral trade between the two countries for 2019-20 crossed $11.87 billion, as per government data. India’s exports from Japan amounted to $3.94 billion while Indias imports from Japan stood at $7.93 billion. In September, it was announced that Japan will work with India on a $100-million investment in Covid-19 vaccines and treatment drugs.
Kishida’s 5-trillion yen goal exceeds the 3.5-trillion yen in investment and financing over the five years that the then Japanese PM Shinzo Abe had announced during his 2014 visit to India, as per Japan’s Nikkei newspaper.
Ladakh situation, China’s role
Shringla said both the PMs discussed China. “We informed Japan of the situation in Ladakh, the attempts of amassing the troops, and our talks with China on border-related issues. The Japanese PM also briefed us on his own perspective vis-a-vis East and South China Sea,” he added.
India has made it clear that unless there was a resolution of border issues with peace and tranquility, the country could not consider the relationship (with China) to be business as usual.
Perspectives on Ukraine situation
The two leaders discussed the Ukraine situation and expressed the seriousness about the ongoing conflict and resulting humanitarian crisis. Being Quad partners, they assessed implications for the Indo-Pacific region, said foreign secretary Harsh Vardhan Shringla at a press conference later. The leaders emphasised on the importance of the safety and security of nuclear facilities in Ukraine. They called for immediate cessation of violence and agreed that there was no path other than dialogue to resolve the crisis.
Exchange of agreements between India-Japan
India and Japan signed six agreements: Cooperation on cybersecurity; JICA (Japan International Cooperation Agency) loans worth Rs 20,400 crore for infrastructure, connectivity, biodiversity, healthcare; amendments to India Japan Comprehensive Economic Partnership agreement; agreement on decentralised wastewater management; India Japan Competitiveness Partnership Roadmap agreement; and a memorandum on sustainable urban development.
Shringla said, “Both sides agreed on work plans with the import of Japanese apples to India and export of Indian mangoes to Japan.”
Separate clean energy partnership
Electric vehicle plant will be set up in Gujarat by Maruti Suzuki, as well as a plant for vehicle scrapping. This will witness a total investment of Rs 10,400 crore. Cooperation under this partnership will build on the work already being covered by the two countries under ‘Japan-India Energy Dialogue’ established in 2007. This will cover areas: Electric vehicles (EV), storage systems including batteries, electric vehicle charging infrastructure; energy conservation in buildings and industries, energy efficient appliances; development of solar energy including solar PV cells; wind energy; clean, including green hydrogen; clean, including green ammonia; greater and cleaner use of LNG; carbon capture, utilisation and storage/carbon recycling; emerging fuels including biofuels, CBG; strategic petroleum reserves; clean coal technology.
‘One team, one project’
Japan has also been supporting infrastructure development in India, including a high-speed rail project. Prime Minister Modi said, “Japan is one of the largest investors in India. India-Japan are working as ‘One team, one project’ on the Mumbai-Ahmedabad high-speed rail corridor,” adding, “today, India presents immense possibilities through ‘Make in India’ for the world.”
Japan is currently supporting India’s urban infrastructure development as well as a high-speed railway based on Japan’s shinkansen bullet train technology.
Looking ahead at Quad summit
Kishida said he was trying his best to conduct the next 2+2 talks soon. “We need a free and open Indo-Pacific for strategic partnership, he added.
He said, “We’ll hold the next India-Japan talks as soon as possible. We also welcome the agreement of cooperation in cyber security. India’s a very important partner for Japan… I invite PM Narendra Modi for the Quad summit meeting in Tokyo.”
(With agency inputs)
Read all the Latest News , Breaking News and Ukraine-Russia War Live Updates here.
[ad_2]
Source link
